Semiconductor Manufacturing International Corporation (NYSE:SMI) was downgraded by research analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a report released on Thursday, The Fly reports.

A number of other brokerages also recently weighed in on SMI. J P Morgan Chase & Co downgraded Semiconductor Manufacturing International Corporation from an “overweight” rating to a “neutral” rating in a report on Thursday, May 11th. ValuEngine downgraded Semiconductor Manufacturing International Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. BNP Paribas downgraded Semiconductor Manufacturing International Corporation from a “hold” rating to a “reduce” rating in a report on Wednesday. Macquarie downgraded Semiconductor Manufacturing International Corporation from an “outperform” rating to a “neutral” rating in a report on Thursday, May 11th. Finally, BidaskClub upgraded Semiconductor Manufacturing International Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, June 16th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Semiconductor Manufacturing International Corporation presently has an average rating of “Hold” and an average price target of $7.97.

Semiconductor Manufacturing International Corporation (SMI) opened at 5.04 on Thursday. The firm’s 50-day moving average is $5.55 and its 200 day moving average is $6.05. Semiconductor Manufacturing International Corporation has a 1-year low of $4.66 and a 1-year high of $7.74. The firm has a market cap of $5.54 billion, a PE ratio of 15.51 and a beta of 0.21.

Semiconductor Manufacturing International Corporation (NYSE:SMI) last issued its earnings results on Tuesday, August 8th. The semiconductor company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.01. The business had revenue of $751.19 million during the quarter, compared to the consensus estimate of $757 million. Semiconductor Manufacturing International Corporation had a return on equity of 5.73% and a net margin of 10.33%. During the same quarter in the previous year, the firm posted $0.11 earnings per share. On average, equities analysts forecast that Semiconductor Manufacturing International Corporation will post $0.09 earnings per share for the current fiscal year.

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Large investors have recently made changes to their positions in the stock. Navellier & Associates Inc purchased a new stake in shares of Semiconductor Manufacturing International Corporation during the first quarter worth approximately $738,000. Profund Advisors LLC boosted its stake in shares of Semiconductor Manufacturing International Corporation by 47.2% in the first quarter. Profund Advisors LLC now owns 72,690 shares of the semiconductor company’s stock worth $456,000 after buying an additional 23,304 shares during the period. K.J. Harrison & Partners Inc boosted its stake in shares of Semiconductor Manufacturing International Corporation by 25.0% in the first quarter. K.J. Harrison & Partners Inc now owns 25,000 shares of the semiconductor company’s stock worth $157,000 after buying an additional 5,000 shares during the period. Capstone Asset Management Co. boosted its stake in shares of Semiconductor Manufacturing International Corporation by 28.4% in the first quarter. Capstone Asset Management Co. now owns 38,740 shares of the semiconductor company’s stock worth $243,000 after buying an additional 8,570 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Semiconductor Manufacturing International Corporation by 41.3% in the first quarter. Parametric Portfolio Associates LLC now owns 213,534 shares of the semiconductor company’s stock worth $1,341,000 after buying an additional 62,416 shares during the period. 0.68% of the stock is owned by hedge funds and other institutional investors.

About Semiconductor Manufacturing International Corporation

Semiconductor Manufacturing International Corporation is an investment holding company principally engaged in the computer-aided design, manufacture, packaging and trading of integrated circuits (IC), as well as the provision of other semiconductor services. The Company is also involved in the design and manufacture of semiconductor masks.